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Rupiah strengthens to 11,597 in afternoon trade
Rupiah traded at interbanks in Jakarta on Thursday afternoon strengthened 30 points to 11,597 per US dollar, up from the previous 11,627
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upiah traded at interbanks in Jakarta on Thursday afternoon strengthened 30 points to 11,597 per US dollar, up from the previous 11,627.
"The rupiah bounced back due to possible intervention by Bank Indonesia," market analyst Lukman Leong from PT Platon Niaga Berjangka said in Jakarta on Thursday as quoted by Antara news agency.
He said no single thing made the currency weaken amid Indonesia's positive economic fundamentals and a relatively peaceful political time.
"Domestic financial market players tend to study sentiment in the country," he said.
Meanwhile, Monex Investindo Futures head of research Ariston Tjendra said the US dollar weakened due to data on new housing in the US that was predicted to be lower than the market had previously projected.
He also said that the US planned to release the latest data on durable goods orders and unemployment allowance claims.
Meanwhile, the central bank's mid-rate showed the rupiah at 11,608 per US dollar, down from the previous 11,590. (nfo)
